Management Accountant
Confidential
Total years of experience :15 years, 10 Months
Review contracts and the tenders.
Review and control the project cost.
Review current process and procedures of accounting and devise processes as per best practices to optimally utilize the available resources
Key Responsibilities
- Analyze & Review periodic profitability
- Perform actual vs. budget / forecast variances analysis and summarize results for Senior Management, identifying key activities that influence results.
- Supervise project costing team.
- Ad Hoc Analysis: Conduct business analysis on business principle partners, their business share and market share.
- Ad Hoc Analysis: Conduct analysis on issues that can have a high impact on the organization's ability to drive profits outlining action plans for improvement, and monitors/reports progress.
- Analyze business segment periodic profitability and seeks clarification for any abnormalities from Segment management.
- Analyze & Validate SAP Results Analysis.
- Analyze of Reserve for unrealized cost (RUC), Work in progress (WIP), Reserve for Imminent Loss per project.
- Analyze and monitor project financial performance.
- Investigate project cost overruns.
- Review extra cost purchase requisitions.
- Liaise with Project Managers and Project Controller on Project Billing Schedules
- Raise Commercial Invoices for Customers with LC payment Terms
- Track Billing milestones in project and ensure timely and accurate billing
- Liaise with Credit Controllers, PMs and Customers for Statement of Account Reconciliations
- Ensure proper filing of Documents relating to projects
- Develop and implement trend reports to identify performance issues, risks or opportunities within the projects
- Perform variance analysis against Budgeted project Revenue & Costs
- Support Ad Hoc data requests from Business Leaders, PMs
- Managed cash flows of the projects for execution phase.
- Assisted preparing management accounts on a monthly basis, with analysis of month to month balances variation, including balance sheet, Income statement..
- Assisted in preparing budget on a yearly basis and updating the budget on a monthly basis.
- Provided reports, Customized upon the request of the management and facilitate strategic decision-making.
- Assist in developing and administering the project estimate (budget) and set process to control expenditures to ensure the budget profit is achieved.
- Identify opportunities to improve profitability.
- Assist & Initiate the project plan and review of progress against set targets.
- Evaluate & Control the value engineering, design, supplier and material selection.
- Ensure that the billing is done as per contract agreements.
- Make regular checks for payment and collections of project to achieve positive cash flow.
- Responsible for coordination & organizes meetings with all project managers of PM office.
- Follow-up progress of each project with program manager and sending them weekly reports.
- Reviewing required approvals of materials required for beyond the contract and its effect on profitability.
Reporting to the Finance Manager
- Liaising on a daily basis with the Project Manager & Program Managers, keeping them up to date with the progress of project financial status.
- Highlight and explain variances to GM and Project Business Directors.
- Preparation and reporting of monthly GP to management.
- Meeting regularly with the project managers and project business directors advising them on the financial impact of their decisions.
- Preparation of project dashboards
- Support decision makers with detailed reports and analysis on how project is performing.
Responsible for cost collection of Project orders and Service orders and to provide support to management to establish proper expense/cost control.
- Ensure accurate recording of expenses by analyzing spending to identify trends and ensuring management understand and take proper actions to have spending under control.
- Establishes procedures and business rules to ensure consistent accounting records.
- Provide detailed analysis on gross profit per project per business segment.
- Proper variance analysis for expenditures.
- Compare and validate contracts values & budgets updated on SAP to ensure correct charges are recorded.
- Ensure proper recording of accruals to assure spending is current.
- Ensure Internal Control for cost recording.
- Educate organization to ensure cost control environment.
Represented Finance in Business Transformation Services Project aimed to re-engineer and re-design entire business process of the company.
- Major contributor in project process redesigning as per best practices based on PRINCE 2 and PMI guide lines.
- Responsible for designing contract cash flow plan and Project budget control plan for complete contract from the evaluation to execution phase.
- Pricing procedure mapping with ERP system.
- Power user of roll out project for one of the subsidiaries based in Jordan to complete the financial data input and Train end users.
- Liaison Accenture Project manager and functional consultant to report SAP implementation issue and solution requirement.
- Client side Team lead for SAP implementation / Configuration changes UAT testing for process change during transformation project.
- Strong understanding of Procurement business operations.
- Experience working with to SAP Finance, Controlling, Selling & Distribution and Procurement.
- Determining operational objectives by studying business functions; gathering information; evaluating output requirements and formats.
- Associated in designing new solutions by analyzing requirements; constructing workflow charts and diagrams; studying system capabilities; writing specifications.
- Worked on optimalization project which was aimed to Improves systems by studying current practices; designing modifications.
- Monitored project progress & performance; resolving problems; publishing progress reports; recommending actions.
- Provided references for users by writing and maintaining user documentation; training users.
- Maintained user confidence and protects operations by keeping information confidential.
- Contributes to team effort by accomplishing related results as needed.
- Recommended controls by identifying problems; writing improved procedures.
Review all suppliers' invoices, ensuring compliance with applicable policies and procedures.
- Ensure all the received invoices are authorized for payment as per the Due date and related supporting documents are correct as well as complete.
- Check that services/materials have been properly received in the system in good condition before processing any invoice for payment.
- Check and book automatic accruals from PO/AP modules
- Book all the creditors' invoices through the system after attaching relevant PO, agreement/contract, and other supporting documents.
- Ensure all the costs are allocated properly to the respective Project, Cost Centers through the pre-determined list of cost centers.
- Ensure all the Accounts Payable transactions are properly accounted for, by selecting the appropriate ledger accounts (Expense, Inter-company, Prepayment, Advance, Accrual ).
- Ensure all of the details of invoices are captured fully as well as properly in the system.
- Stamp all booked invoices and note down the reference clearly.
- Perform suppliers accounts reconciliation as and when assigned.
- Communicate to and coordinate with the Fixed Assets team with regards to Fixed Assets Numbers for all routine capital procurement ensuring proper selection.
- Review the invoice tracking sheet on monthly basis to identify any required accrual and report on the same.
- Follow the accounts payable monthly closing check list ensuring proper and timely accounts payables monthly closing process/procedures.
Compliance
- Ensure any transaction processed is in compliance with AFG Policies and Procedures, authorized according to applicable DOA, and supported by required supporting documents.
Collection of existing business process through detailed discussions with the organization's core team and Mapping the business processes to SAP and documenting the processes as per requirement.
Reviewed workflow of TO BE solutions.
Designed the organization structure and setting it up in SAP in association with other members of the Implementation team.
Configured Chart of Accounts, Account Groups in General Ledger GL, Accounts Receivable AR, Accounts Payable AP and Cost Center Accounting.
Configured General Ledger Master Data, Incoming Payments and Reason Codes.
Configured Accounts Receivable Master Data, Incoming Payments and Open Item Clearing.
Configured Accounts Payable Master Data, Outgoing Payments and Open Item Clearing.
Configured Cost Center Accounting Master Data.
Involved in configuring field status groups, Posting keys, Inter-company postings, financial statement versions, document types, Open and Close Posting Periods.
Configured customer and vendor account group for domestic and one-time customer and vendor. Defined number ranges and customer tolerance limits.
Configuration of house banks, Bank accounts, GL structure, posting rules for automatic assignment.
Associated team in Integration of FI Module with MM and SD Modules.
Designed, developed and tested data conversion programs to load, GL uploads, Account Payables and Customer Open Account Receivables data into SAP using LSMW
Responsible for transfer of financial data from legacy system to SAP using LSMW.
Associated team in UAT and User Training & Post implementation support.
Completed MBA (Finance & Marketing) from the Osmania University. Areas covered : Strategic Management Security analysis & Portfolio Management International Finance Financial Systems & Services Financial Management Financial Accounting & Analysis Management Accounting & Control Management Information Systems Strategic Financial Decisions Statistics for Management Managerial Economics Business laws & Ethics Organization Theory & Behavior Quantitative Techniques for Decision Making Economic & Environmental Policy Human Resource Management Production & Operations Management Leadership & Change Management Organization Development & Team Building Supply Chain Management International Business Performance Appraisal & Counselling Industrial Relations Introduction to Information Technology RDBMS Principles of Marketing Marketing Research Product Management Promotion & Distribution Management Consumer behavior Services Marketing
1st Class Bachelor’s Degree in Commerce & Accounting with Computers Science as one of the major subject .i.e. B.Com (Computers) from Osmania University with 68%. 2nd years Continuous scholarship for best performance in one paper. 3rd Best Scorer in Statistics & Quantitative Techniques paper.